Welspun Corp has incorporated a wholly owned subsidiary, Welspun Global Holdings Limited (“WGHL”), in the Dubai International Financial Centre (“DIFC”), United Arab Emirates. WGHL will serve as an investment holding company to oversee the company’s global investments. The incorporation received official certification, marking a key step in Welspun’s international strategy.
Subsidiary Incorporation
Welspun Corp has announced the incorporation of a new wholly owned subsidiary (WOS), named Welspun Global Holdings Limited (“WGHL”). This new entity is based in the Dubai International Financial Centre (“DIFC”), located in the United Arab Emirates.
Purpose and Capitalization
The primary purpose of WGHL is to function as an investment holding company. It will oversee Welspun’s various investments on a global scale. WGHL has been incorporated with a minimum paid-up share capital of AED 100,000, divided into 10,000 shares of AED 10 each. All shares are fully held by Welspun Corp.
Source: BSE